Ola Electric IPO Allotment and GMP Update: What to Expect Today

Following the completion of Ola Electric Mobility Ltd.'s initial public offering (IPO), investors are anticipating the IPO allotment, which is anticipated to be finalised today. Ola Electric Mobility Ltd. manufactures electric two-wheelers. After the IPO subscription window closed yesterday, August 6, 2024, the basis of allotment for shares of Ola Electric Mobility Limited, funded by SoftBank, is scheduled for today, August 7, 2024.

Strong Investor Response to Ola Electric IPO

Investors were able to purchase 195 shares in the Ola Electric initial public offering (IPO) at a price range of Rs 72-76 per share. By the time of the final subscription date, the public issue had received 4.45 times more subscriptions than it had initially.

Strong QIB Participation in Ola Electric IPO

The IPO of Ola Electric garnered the greatest interest from Qualified Institutional Buyers (QIBs), who subscribed at a rate of 5.53 times. By the closing day of the subscription, retail investors had subscribed 4.05 times, while non-institutional investors (NIIs) had subscribed 2.51 times. August 7 is designated as the IPO allotment date, while August 9 is the listing day.

Ola Electric IPO Allotment Status

The Ola Electric shares are supposed to be distributed today. Investors can check the status of the allotment once it has been finalised by going to the BSE's official website or Link Intime India, the issue's registrar. On August 8, the corporation is expected to credit the shares into the demat accounts of qualified investors after fixing the basis of allotment today. On the same day, unsuccessful bidders whose bids are rejected will get their application fees returned.

Through the official webpage of the IPO registrant or the BSE website, investors can check the Ola Electric IPO allotment status online.

Steps to Check Ola Electric Mobility Limited IPO Share Allotment

• Click on Investor Services.
• Select Public Issues.
• Choose Ola Electric Mobility Limited.
• Enter your Application Number, PAN, DP/Client ID, or Account Number/IFSC.
• Click Submit to check your allotment status.

Ola Electric IPO Grey Market Premium (GMP) Update

Ola Electric's initial public offering (IPO) grey market premium (GMP) has decreased as a result of a lower price. Ola Electric's IPO GMP is down on Wednesday, trading at ₹3 a share. Based on this information, it can be inferred that the shares are being sold in the grey market for ₹3, which is almost 4% less than the IPO price range. This points to a potentially unimpressive listing for Ola Electric shares, according to stock market analysts and multiple websites monitoring grey market activity.

Conclusion:

 Ola Electric Mobility Ltd.'s IPO allotment is set to be finalized today, following strong investor interest, especially from QIBs. Despite this, the grey market premium suggests a potential discount in the listing price. Investors can check the allotment status on the BSE website. Shares will be credited to eligible investors' demat accounts by August 8, with refunds to unsuccessful bidders on the same day. The official listing is scheduled for August 9, 2024.

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